Could Bitcoin Hit $100,000 in 2023?
After Bitcoin (CRYPTO: BTC) hit an all-time high of nearly $70,000 in November 2021, many believed that the original cryptocurrency had enough momentum to hit the six-digit mark of $100,000. Yet Bitcoin fell as fast as it rose, and has continued falling.
Since hitting that all-time high in 2021, Bitcoin is down more than 70%. Drops of this magnitude aren't uncommon when bear markets and crypto winters arrive, but past data show that when these periods of price decimation end, increases can return just as fast as they left.
In Bitcoin's history there have only been three years that haven't produced a return of at least 48%. For Bitcoin to hit $100,000 in 2023 it would need to climb by 490%. That might sound impossible, but Bitcoin has made yearly returns of more than 490% twice in its history.
Source Fool.com
